Business groups welcome Budget

Mar 08, 2021

Business groups welcomed the Chancellor's Budget for protecting the economy now and kickstarting recovery from the COVID-19 pandemic.

Tony Danker, Director General of the CBI, said: 'The…

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Sunak set out Budget to protect businesses

Mar 08, 2021

Chancellor Rishi Sunak set out a Budget to protect businesses through the pandemic, fix the public finances and begin building the future economy.

The Chancellor once again pledged to do 'whatever…

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Online service opens for VAT deferral scheme

Mar 08, 2021

HMRC has announced that businesses that deferred VAT payments last year can now join the new online VAT Deferral New Payment Scheme to pay it in smaller monthly instalments.

To take advantage…

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Late payment penalties for Self Assessment waived until 1 April

Mar 08, 2021

HMRC has announced that Self Assessment taxpayers will not be charged a 5% late payment penalty if they pay their tax or set up a payment plan by 1 April.

The payment deadline for Self Assessment…

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Advisory fuel rates for company cars

Mar 08, 2021

New company car advisory fuel rates have been published and took effect from 1 March 2021.

The guidance states: 'You can use the previous rates for up to one month from the date the new…

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Borrowers of Bounce Back loans given six more months for repayments

Mar 08, 2021

Businesses that took out government-backed Bounce Back loans to get through the coronavirus (COVID-19) pandemic will now have greater flexibility to repay their loans, the government has announced.

The…

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Domestic VAT reverse charge comes into effect on 1 March

Mar 08, 2021

The twice-delayed introduction of the domestic VAT reverse charge for construction services came into effect on 1 March 2021.

The change was originally scheduled to come into effect from 1 October…

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HMRC clarifies off-payroll rules

Mar 08, 2021

HMRC has published a briefing on its approach to the changes to off-payroll working rules, commonly known as IR35, which will be introduced on 6 April 2021.

Reiterating its advice from last…

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Budget 2021

Mar 04, 2021

Introduction

The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021. In his speech he stated his Budget 'meets the moment with a three-part plan to protect the jobs…

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